It surely works just fine. When in doubt, always test with the simplest possible case. If necessary, create a special mini project for this.
I suspect your issue lies elsewhere in your code....
procedure TForm1.Button1Click(Sender: TObject);
var
slist: TStringList;
begin
slist := TStringList.Create;
try
slist.CommaText := 'The,quick,brown,fox,jumped,over,the,lazy,dog.';
memo1.Text := slist.Text;
finally
if Assigned(slist) then
slist.Free;
end;
end;